A Consumer Is at an Optimum When the Price of One

question 144

Multiple Choice

A consumer is at an optimum when the price of one good she has been consuming decreases. As a result

• A) the value of the marginal utility of the last unit consumed has increased.
• B) the value of the marginal utility of the last unit consumed has decreased.
• C) the price of the other good must decrease too.
• D) the marginal utility of the last dollar spent on this good is now greater than the marginal utility of the last dollar spent on other goods.

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Definitions:

Stepwise Mechanism

A reaction mechanism that occurs through multiple discrete stages, each involving its own transition state and intermediates.

HBr

Hydrobromic acid, a diatomic molecule formed by hydrogen and bromine, used in synthesis and as a strong acid in aqueous solutions.

Major Organic Product

The primary product resulting from a chemical reaction, often emphasized in organic chemistry due to its greater yield or significance.

Reaction

The procedure in which substances, known as reactants, are chemically changed to produce one or more different substances, the products.